Tue, Sep 27, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

CFTC charges two commodity firms with fraud

Thursday, August 30, 2012

Bailey McCann, Opalesque New York: The Commodities Futures Trading Commission (CFTC) has charged two commodities firms - one in Texas and another in California with fraud. The regulator has charged Jonathan Hansen of Pearland, Texas, and his company, J. Hansen Investments, LLC (JHI), with fraudulently soliciting and accepting more than $1.1 million from the public in a commodity pool scheme. In a separate action, the CFTC also charged Marc Perlman of Rancho Cucamonga, Calif., and his firm, iGlobal Strategic Management, LLC (iGlobal) with operating a commodity pool Ponzi scheme that fraudulently solicited and accepted at least $670,000 from at least 17 people — largely persons from the deaf community. Perlman was a principal and officer of iGlobal, and neither defendant has ever been registered with the CFTC.

In the Hansen case, a judge in the U.S. District Court for the Southern District of Texas, has issued a restraining order freezing Hansen's assets and prohibiting the destruction of any books and records at the firm. A trial has been set for September 6, 2012. According to the complaint, from at least April 2009 through January 2012, Hansen and JHI fraudulently solicited and accepted approximately $1,117,160 from at least 10 members of the public to trade E-Mini S&P 500 futures contracts in a commodity pool he operated. Of the amount received from participants, Hansen allegedly transferred approximately $134,965 to his personal or JHI’s futures trading accounts, ......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Activist News - Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership, Activist investors double chance of CEO exits[more]

    Caesars offers creditors another $1.6bn, would spell end of hedge fund ownership From Calvinayre.com: Casino operator Caesars Entertainment has improved its offer to junior creditors to over $5b, but the offer is only good until Friday. On Wednesday, Caesars added an extra $1.6b to the $

  2. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  3. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  4. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  5. Trend reversals lead to losses as managed futures drops 1.52% in August[more]

    Komfie Manalo, Opalesque Asia: Trend reversals in August have led managed futures traders to lose 1.52% last month according to the Barclay CTA Index compiled by BarclayHedge. The Index is up 0.62% year to dat